The Treasury, in its forecast for the economy for the coming year, has predicted company tax take may be higher than previously thought, but not everyone agrees.
Core tax revenue fell in the four months to October compared with earlier estimates, with lower GST returns offsetting higher corporate tax revenue.
The Treasury says recent profit results show company tax may be higher than expected this year.
However, Finance Minister Bill English says he's not so sure that will be the case and PWC chairman John Shewan is also cautious about the prediction.
He says company results are a mixed bag and he wouldn't expect to see an uplift on last quarter.
The only exception, Mr Shewan says, is dairy and sheep and beef, where higher payments have been received.
Overall, he says, people are are proceeding cautiously and while it's interesting to see a turnaround it not something we should be "swinging from the chandeliers over".
According to The Treasury figures, the operating deficit, excluding unrealised investment gains or losses, stood at $3.4 billion in the four months to the end of October, an increase of 4% that had been forecast by The Treasury.
Net debt stood at nearly $46 million, or 22.9% of gross domestic product.